WAUSAU, Wis. (WSAU) -- The City of Wausau has acquired more property for use in future redevelopment projects.
At the last city council meeting, the alderpersons voted to purchase a house at 1201 North Second Street, another house at 1306 N. First Street next to the former Savo Supply building which is accepting developer proposals, and a house at 2408 Gowen Street next to Athletic Park that had orders for demolition from the city inspection department.
Community Development Director Ann Werth says the fourth piece of property is the former L&S Printing building at Stewart and First Avenues. “The property became available a couple of years ago. There was an offer put in on it that was rejected, and the property went up for sale just recently for a lesser amount of money, and the City of Wausau purchased that.”
The L&S site was foreclosed on a couple of years ago, and the bank lowered the sale price. Werth says the city would like to see a much better use on that busy intersection where the property goes to the riverbank. “We look at that property as key to the gateway into our business district, and the potential for a higher and better use on that property than the building that is there currently.”
A five year loan from the Judd S. Alexander Foundation for $190,000 is being used to purchase the land.